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BELGRADE -- Parliament's Committee for Finances met on Thursday in Belgrade at the request of the opposition. The committee was debating measures the government and the National Bank of Serbia (NBS) should undertake in order to alleviate the effects of the global financial meltdown on Serbia's financial system, economy and the citizens' welfare. NBS Governor Radovan Jelašić took part in the meeting, to say that Serbia's financial system is not threatened, that banks are solvent and that the crisis would affect the volume and price of loans. He reiterated that citizens' bank deposits are backed by the NBS reserves of about EUR 10bn "which are safe". Jelašić explained that 72 percent of the reserves have been invested in securities, 24 percent are in the form of deposits while four percent are gold and hard currency cash. He... [read full story]
